This is our main tax information forum which deals with topics concerning Canadians living and working in the U.S., U.S. citizens contemplating working in Canada, and all aspects of Canadian and U.S. income tax and related adminstrative issues.
Entered US in December 2012. That tax will be filed as foreign income (from Canada).
For the person who is going to be filing tax for the first time in US in 2014 for the tax year 2013, which US income, what is the IRS default limit for pre-tax contribution. My employer's service provider is asking to fill online form for pre-tax and ROTH and I am assuming 10% will be a good amount to start. Don't know the limit for the new comer though. This is what is norm for Canadian RRSP/DRSP contribution.
Oh. OK. Thats simple. But can the unused portion of the limit be carry forward to the next year? Is it also applicable on Roth as well? Is this limit including employer match as well or just the individual's?